Supplemental Term

The purpose of the Supplemental Life Insurance Plan is to provide the opportunity for individuals to purchase term life insurance protection above the amount of Basic Term Life insurance provided by the University. This plan is fully employee paid.

Coverage

Employees may elect 1 to 5 times their University salary

Maximum coverage of $2,000,000

Coverage at Hire or Initial Benefits Eligibility

Employees at hire are guaranteed coverage of 3 times their annual salary up to $1 million regardless of health status. If a new employee wishes to elect more than 3 times their annual salary or the coverage amount exceeds $1 million, he must:

Increase Coverage

Employees may increase coverage by 1x their annual salary within 31 days of a qualifying change in family or employment status without underwriting by completing the Benefits Change Form. Increases greater than 1x their annual salary require the submission of an EOI.

Changes during Open Enrollment require the submission of an EOI and approval by the sponsoring insurance company.

Premiums

*Premium Rate per $1,000 of Coverage
**Please note that premiums are taken as an after-tax deduction from your paycheck.